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Air Products and Chemicals, Inc. (APD) is a global leader in the industrial gases sector, focusing on energy, environmental, and emerging markets. The company produces essential industrial gases such as oxygen, nitrogen, argon, hydrogen, and helium, serving industries like refining, chemicals, metals, electronics, manufacturing, medical, and food . APD also designs and manufactures equipment for air separation, hydrocarbon recovery, and purification, as well as liquid helium and hydrogen transport and storage . A significant portion of its revenue is generated through long-term on-site supply contracts, and the company is a major player in the clean hydrogen market, supporting the transition to low- and zero-carbon energy .
- Industrial Gases - Produces and supplies essential industrial gases such as oxygen, nitrogen, argon, hydrogen, and helium to various industries including refining, chemicals, metals, electronics, manufacturing, medical, and food .
- Clean Hydrogen - Develops and operates large-scale projects in the clean hydrogen market, focusing on low- and zero-carbon energy solutions for industrial and heavy-duty transportation sectors .
- Equipment Products - Designs and manufactures equipment for air separation, hydrocarbon recovery, and purification, as well as liquid helium and hydrogen transport and storage, including turbomachinery and cryogenic containers .
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Given that only 35% of the production capacity at the NEOM green hydrogen project has been contracted on a take-or-pay basis so far, how confident are you in securing offtake agreements for the remaining capacity before the project's completion at the end of 2026?
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With permits for the Louisiana blue hydrogen project expected to be issued in 2025 and 2026, and considering that your net cash flow projections starting in 2027 do not include project financing or equity partnerships, what are the risks of potential delays or cost overruns impacting these financial targets?
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The Middle East and India segment has shown declines due to reduced merchant demand and pricing pressures, particularly in the United Arab Emirates. What strategies are you implementing to address these challenges and improve performance in this region?
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After exiting the proposed $4.5 billion green hydrogen joint venture in Northern Texas, how does this decision affect your overall clean hydrogen strategy, and are there concerns about meeting internal return targets for future clean energy projects?
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With the LNG business contributing about 4% of earnings (approximately $0.49 per share) and now being discontinued, how do you plan to offset this 4% headwind in FY2025 to maintain your growth trajectory?
Recent developments and announcements about APD.
Corporate Leadership
Board Change
David H.Y. Ho and Matthew H. Paull have decided to retire and will not stand for re-election to the Board of Directors of Air Products and Chemicals, Inc. at the 2025 Annual Meeting of Shareholders. Their retirements will be effective immediately after the conclusion of the Annual Meeting . Bhavesh V. 'Bob' Patel and Alfred Stern are nominated for election to the Board at the 2025 Annual Meeting .
Leadership Change
David H.Y. Ho and Matthew H. Paull are retiring from the Board of Directors of Air Products and Chemicals, Inc. They will not seek re-election at the 2025 Annual Meeting. There are no disagreements with the company that led to their decision . Bob Patel and Alfred Stern are nominated as new independent directors. Patel brings 35 years of experience in the global chemicals and materials industry, while Stern has 29 years of experience in leading global energy and chemicals companies .